(WFRV) – The Wisconsin Department of Revenue (DOR) is sending $3.9 million to unclaimed property owners in March, and for many, the delivery of a check will come as a surprise.
The DOR annually matches tax records against the state’s unclaimed property roll. If the DOR can definitively match tax records to an owner on the unclaimed property roll, the agency sends out checks automatically.
The checks are sent to those owed property valued at $2,000 or less, and will send letters to those owed property valued at greater than $2,000 explaining how to claim the money.
According to the DOR, this year’s matching program has identified over 34,000 unclaimed property owners and will be sending $3.9 million in refund checks to over 33,000 of them.
Officials with the DOR say that this year’s first round of checks and letters will be hitting mailboxes at the end of the week. Those receiving a check will receive a “Notice of Claim Refund for Unclaimed Property.”
If a taxpayer has questions about the validity of their check, they can use the “Check Your Claim Status” page on DOR’s website to confirm.
The DOR reminds Wisconsinites that there is never a fee that unclaimed property owners must pay to claim unclaimed property. If a taxpayer receives an unsolicited letter offering to reunite them with their property for a fee, it’s likely a scam.
Unclaimed property includes funds from savings or checking accounts, uncashed dividends, insurance policies, or other accounts that the owner may be unaware of or have forgotten.
Banks, credit unions, insurance companies, and other businesses must report unclaimed property to DOR each year by November 1. DOR then holds the property for safekeeping until the owner claims it.
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